There are a number of ways I can see it going.
Other countries will also ban embryonic stem cell technologies, Other countries will not ban technologies, and have a huge boost in their biotech industries, other countries will not ban the technology, but will flounder due to the lack of support and collaboration from the scientific community in the U.S.A. the ban will last only for a short time when the U.S.A. realises that they have made a mistake, or research in the U.S.A. will be largely modified and drawn away from medical technology.
What do you think?

the ban wil llast as long as this administration is in power, then we'll see what happens.

I read the transcript of Bush'd speech regarding his first and only veto. What farce!

He vetoes the reversal of his poorly thought out ban on stem cell research and then has the audacity to bring up that other ridiculous bill that he signed into law - The Fetus Farming Prohibition Act! He even went so far as to say, "This good law prohibits one of the most egregious abuses in biomedical research: the trafficking in human fetuses that are created with the sole intent of aborting them to harvest their parts."

This makes it sound like this has already happened, when in fact nothing of the sort has ever happened. There are no plans to start abducting homeless women and impregnating them so we can harvest their embryos for research. This is just political pandering to the religous zealots. But this is a real and dangerous precedent. The more the government disseminates and the press capitulates this information, the deeper the mis-information penetrates into our society.